SpaceX Buys Cursor In $60 Billion Deal

SpaceX said on 16th June it will acquire Anysphere, the startup behind the AI coding agent Cursor, for $60 billion in an all-stock transaction, a deal that pushes the newly public company deeper into enterprise artificial intelligence.

The acquisition comes days after SpaceX's Nasdaq debut, where its valuation surged past $2 trillion. By paying in stock rather than cash, SpaceX is using its elevated share price to absorb a fast-growing AI company without drawing on the roughly $18 billion raised in its IPO. Billionaire investor Bill Ackman noted the logic in a post on X. "One of the things that makes SpaceX so valuable is how valuable it is. The Cursor acquisition costs materially less in dilution because of SpaceX's high valuation," he wrote.

Cursor has become one of the most widely used AI coding tools, pulling in roughly $2.6 billion in annualized business-to-business revenue and attracting backers such as Andreessen Horowitz, Thrive, Nvidia, and Google. The startup had reportedly been in talks for a funding round that would have valued it at $50 billion. SpaceX had been circling Anysphere for months and in April had outlined an option to either buy the company for $60 billion or pay $10 billion for a partnership.

The deal gives xAI, which SpaceX acquired in February, a stronger foothold in AI coding, a domain where companies have begun converting AI into real revenue. SpaceX said it will soon release a jointly trained AI model on Cursor and Grok Build, xAI's own coding agent. Matt Britzman, an equity analyst at Hargreaves Lansdown, said Cursor had built impressive coding models relative to cost, making the acquisition a positive step for SpaceX even though it lacks the scale of OpenAI or Anthropic.

SpaceX shares jumped 10 percent in early trading, putting the company on track to overtake Amazon in market value. The transaction is expected to close in the third quarter of 2026. A termination fee of $10 billion applies if the deal collapses under specific circumstances, falling to $4 billion if it fails on antitrust grounds.